Aqua Mont launches buyout bid for Hidrotehnika-Hidroenergetika

Serbian company Aqua Mont Service plans to launch a buyout bid for the 29.93% stake it does not own yet in energy and hydropower facilities builder Hidrotehnika-Hidroenergetika.

Aqua Mont Service, owned by Serbian citizen Aleksandar Milosavljevic, intends to launch a bid for 44,137 shares in Hidrotehnika-Hidroenergetika at a price of 1,119.38 dinars (US$10.5) apiece until September 2.

In January, Aqua Mont Service purchased a 70.1% stake in the capital of Hidrotehnika-Hidroenergetika from the Serbian government for EUR977,000 (US$1.1 million).

Hidrotehnika-Hidroenergetika is currently implementing projects in Serbia, Tunisia and Algeria.

There has been no trading in Hidrotehnika-Hidroenergetika shares on the Belgrade Stock Exchange in the past three years.